Update: Flatiron Health putting $175 million Roche investment to work
[Editor's note: We misreported the timing of this announcement in the original version of this article as having happened in January of 2017 when it took place in January 2016. The corrected version follows. We regret the error.]
Cloud-based oncology software startup Flatiron Health raised $175 million last year and entered into a partnership with pharmaceutical giant Roche, which led the funding.
It's a multi-year, non-exclusive agreement in which Roche committed to purchasing a number of Flatiron Health’s life science offerings. The companies are also in ongoing collaboration to accelerate clinical trials, advance personalized medicine and enhance patient care.
“The collaboration with Roche will provide us with a unique opportunity to further advance clinical research and real-world evidence in a meaningful way – both of which are central to Flatiron Health’s core mission statement,” Zach Weinberg, co-founder and president of Flatiron Health, said at the time.
Flatiron co-founder and CEO Nat Turner added that the company would also use the funding to strengthen its core offerings and to empower its provider clients.
The Series C fundraising had some analysts speculating a year ago that an IPO may be in the offing for the New York City startup, founded by Nat Turner and Zach Weinberg in 2012.
But Turner dismissed the speculation.
“Our company was founded to fight cancer with technology, and we see ourselves supporting this fight as an independent company for many years to come,” Turner said in a statement.